2021 Terrorism Risk Insurance Program Data Call, 14179-14181 [2021-05171]

Download as PDF Federal Register / Vol. 86, No. 47 / Friday, March 12, 2021 / Notices technology; and (e) Estimates of capital or start-up costs and costs of operation, maintenance, and purchase of services to provide information. Theodore J. Dowd, Deputy Chief Counsel, Office of the Comptroller of the Currency. [FR Doc. 2021–05180 Filed 3–11–21; 8:45 am] Policy Analyst, Federal Insurance Office, Room 1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622– 3220. Persons who have difficulty hearing or speaking may access these numbers via TTY by calling the toll-free Federal Relay Service at (800) 877–8339. SUPPLEMENTARY INFORMATION: BILLING CODE 4810–33–P DEPARTMENT OF THE TREASURY 2021 Terrorism Risk Insurance Program Data Call Departmental Offices, U.S. Department of the Treasury. ACTION: Data Collection. AGENCY: Pursuant to the Terrorism Risk Insurance Act of 2002, as amended (TRIA), insurers that participate in the Terrorism Risk Insurance Program (TRIP or Program) are directed to submit information for the 2021 TRIP Data Call, which covers the reporting period from January 1, 2020 to December 31, 2020. Participating insurers are required to register and report information in a series of forms approved by the Office of Management and Budget (OMB). All insurers writing commercial property and casualty insurance in lines subject to TRIP, subject to certain exceptions identified in this notice, must respond to this data call no later than May 15, 2021. DATES: Participating insurers must register and submit data no later than May 15, 2021. ADDRESSES: Participating insurers will register through a website that has been established for this data call. After registration, insurers will receive data collection forms through a secure file transfer portal, and they will submit the requested data through the same secure portal. Participating insurers can register for the 2021 TRIP Data Call at https://tripsection111data.com. Additional information about the data call, including sample data collection forms and instructions, can be found on the TRIP website at https:// home.treasury.gov/policy-issues/ financial-markets-financial-institutionsand-fiscal-service/federal-insuranceoffice/terrorism-risk-insurance-program/ annual-data-collection. FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance Regulatory Policy Analyst, Federal Insurance Office, Room 1410, Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622–2922; or Lindsey Baldwin, Senior Insurance Regulatory SUMMARY: VerDate Sep<11>2014 17:04 Mar 11, 2021 Jkt 253001 I. Background TRIA 1 created the Program within the U.S. Department of the Treasury (Treasury) to address disruptions in the market for terrorism risk insurance, to help ensure the continued availability and affordability of commercial property and casualty insurance for terrorism risk, and to allow for the private market to stabilize and build insurance capacity to absorb any future losses for terrorism events. The Program has been reauthorized on a number of occasions, and was most recently extended until December 31, 2027.2 TRIA requires the Secretary of the Treasury (Secretary) to collect certain insurance data and information from insurers on an annual basis regarding their participation in the Program.3 TRIA also requires the Secretary to prepare a biennial study on the competitiveness of small insurers in the terrorism risk insurance marketplace (Small Insurer Study).4 The next Small Insurer Study must be submitted to Congress by June 30, 2021. The Federal Insurance Office (FIO) is authorized to assist the Secretary in the administration of the Program,5 including conducting the annual data call and preparing reports and studies required under TRIA. FIO will be using the same data collection forms, without material changes, that were used during the 2020 TRIP Data Call. FIO solicited public comment concerning these forms, after their use during the 2020 TRIP Data Call,6 and received no comments objecting to the continued use of these forms or proposing further revisions to the forms. The forms were then submitted for approval to the Office of Management and Budget (OMB), 1 Public Law 107–297, 116 Stat. 2322, codified at 15 U.S.C. 6701, note. Because the provisions of TRIA (as amended) appear in a note, instead of particular sections, of the United States Code, the provisions of TRIA are identified by the sections of the law. 2 Terrorism Risk Insurance Program Reauthorization Act of 2019, Public Law 116–94, 133 Stat. 2534. 3 TRIA, sec. 104(h)(1). Treasury regulations also address the annual data collection requirement. See 31 CFR 50.51, 50.54. 4 TRIA, sec.108(h). 5 31 U.S.C. 313(c)(1)(D). 6 85 FR 41676 (July 10, 2020). PO 00000 Frm 00111 Fmt 4703 Sfmt 4703 14179 pursuant to the requirements of the Paperwork Reduction Act. The data collection forms have now been approved for use by OMB under Control Number 1505–0257 for a period ending November 30, 2023.7 II. Elements of 2021 TRIP Data Call For purposes of the 2021 TRIP Data Call, FIO, state insurance regulators, and the National Association of Insurance Commissioners (NAIC) will again use the consolidated data call mechanism first developed for use in the 2018 TRIP Data Call. This approach relies on four joint reporting templates, to be completed by Small Insurers, Non-Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers, each as defined below. The use of joint reporting templates is designed to satisfy the objectives of both Treasury and state insurance regulators, while also reducing burden on participating insurers. State insurance regulators or the NAIC will provide separate notification regarding the reporting of information into the state reporting portal, including any reporting requirements to state insurance regulators that are distinct from the Treasury requirements. Insurers subject to the consolidated data call that are part of a group will report on a group basis, while those that are not part of a group will report on an individual company basis. A. Reporting of Workers’ Compensation Information The TRIP Data Calls request certain information relating to workers’ compensation insurance. For the 2021 TRIP Data Call, Treasury will again work with the National Council on Compensation Insurance (NCCI), the California Workers’ Compensation Insurance Rating Bureau (California WCIRB), and the New York Compensation Insurance Rating Board (NYCIRB) to provide workers’ compensation data relating to premium and payroll information on behalf of participating insurers, either directly or through other workers’ compensation rating bureaus. The data aggregator used by Treasury will provide such insurers with reporting templates that do not require them to report this workers’ compensation data. Reporting insurers that write only workers’ compensation policies are still required to register for the 2021 TRIP Data Call and provide general company information and data 7 Office of Information and Regulatory Affairs, Office of Management & Budget, OMB Control No. 1505–0257, https://www.reginfo.gov/public/do/ PRAViewICR?ref_nbr=202009-1505-002. E:\FR\FM\12MRN1.SGM 12MRN1 14180 Federal Register / Vol. 86, No. 47 / Friday, March 12, 2021 / Notices related to private reinsurance. The data received from NCCI, the California WCIRB, and the NYCIRB will be merged with the information provided by the insurers. B. Reporting Templates There are no material changes to the reporting templates used in the 2020 TRIP Data Call.8 Each category of insurer is required to complete the same worksheets that they completed in the 2020 TRIP Data Call. The same reporting exceptions apply this year as applied in the 2020 TRIP Data Call, as specified further below in the discussions for each category of insurer. Various worksheets used in the 2021 TRIP Data Call seek certain information relating to workers’ compensation insurance. NCCI, the California WCIRB, and the NYCIRB will complete the workers’ compensation elements of these worksheets on behalf of reporting insurers. Further information concerning the reporting templates for each category of insurer, and the individual worksheets contained within each, can be found in the instructions for the reporting templates for each category of insurer. The individual reporting templates and worksheets will also be addressed in the training webinars discussed below. For the 2021 TRIP Data Call, an insurer will qualify as a Small Insurer if it had both 2019 policyholder surplus of less than $1 billion and 2019 direct earned premiums in TRIP- eligible lines of insurance of less than $1 billion.9 Of this group, Small Insurers with TRIPeligible direct earned premiums of less than $10 million in 2020 will be exempt from the 2021 TRIP Data Call.10 Neither 8 There is a new modeled loss scenario identified in the Reinsurance Worksheet that will be used in connection with the modeled loss questions (which have not changed from those posed in prior data collections). The modeled loss questions must be completed by Non-Small Insurers, Alien Surplus Lines Insurers, and Captive Insurers. As in prior years, Small Insurers complete a separate Reinsurance Worksheet that does not contain modeled loss questions. 9 Small Insurers are defined in 31 CFR 50.4(z) as insurers (or an affiliated group of insurers) whose policyholder surplus for the immediately preceding year is less than five times the Program Trigger for the current year, and whose direct earned premiums in TRIP-eligible lines for the preceding year are also less than five times the Program Trigger for the current year. Accordingly, for the 2021 TRIP Data Call (covering the 2020 calendar year), an insurer qualifies as a Small Insurer if its 2019 policyholder surplus and 2019 direct earned premiums are less than five times the 2020 Program Trigger of $200 million. 10 Individual insurers with less than $10 million in direct earned premiums in TRIP-eligible lines that are part of a larger group must still report as part of the group as a whole if the group’s direct earned premiums in these lines are over $10 million. VerDate Sep<11>2014 17:04 Mar 11, 2021 Jkt 253001 Captive Insurers nor Alien Surplus Lines Insurers are eligible for this reporting exemption. Insurers defined as Small Insurers for the 2021 TRIP Data Call will report the same information to Treasury and to state insurance regulators (in each case on a group basis), except as state insurance regulators may separately direct for purposes of the state data call. The Non-Small Insurer template will be completed by insurance groups (or individual insurers not affiliated with a group) that are not subject to reporting on the Captive Insurer or Alien Surplus Lines Insurer reporting templates, and had either a 2019 policyholder surplus of greater than $1 billion or 2019 direct earned premiums in TRIP-eligible lines of insurance equal to or greater than $1 billion. Insurers defined as Non-Small Insurers for the 2021 TRIP Data Call will report the same information to Treasury and to state insurance regulators (in each case on a group basis), except as state insurance regulators may separately direct for purposes of the state data call. Captive Insurers are defined in 31 CFR 50.4(g) as insurers licensed under the captive insurance laws or regulations of any state. Captive Insurers that wrote policies in TRIP-eligible lines of insurance during the reporting period (January 1, 2020 to December 31, 2020) are required to register and submit data to Treasury, unless they did not provide their insureds with any terrorism risk insurance subject to the Program. Alien Surplus Lines Insurers are defined in 31 CFR 50.4(o)(1)(i)(B) as insurers not licensed or admitted to engage in the business of providing primary or excess insurance in any state, but that are eligible surplus line insurers listed on the NAIC Quarterly Listing of Alien Insurers. Alien Surplus Lines Insurers that are part of a larger group classified as a Non-Small Insurer or a Small Insurer should report to Treasury as part of the group, using the appropriate template. Therefore, the Alien Surplus Lines Insurer template should be used only by an Alien Surplus Lines Insurer that is not part of a larger group subject to the 2021 TRIP Data Call. C. Supplemental Reference Documents Treasury will continue to make available on the TRIP data collection website 11 documents providing a complete ZIP code listing for areas subject to reporting on the Geographic 11 See https://home.treasury.gov/policy-issues/ financial-markets-financial-institutions-and-fiscalservice/federal-insurance-office/terrorism-riskinsurance-program/annual-data-collection. PO 00000 Frm 00112 Fmt 4703 Sfmt 4703 Exposures (Nationwide) Worksheet, as well as several hypothetical policy reporting scenarios. D. Training Webinars As in prior years, Treasury will hold four separate training sessions corresponding to the four reporting templates that will be used by insurers (Small Insurers, Non-Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers). The webinars will be held on April 15 and April 16, 2021 to assist reporting insurers in responding to the 2021 TRIP Data Call, with each webinar focusing on a specific reporting template. Specific times and details concerning participation in the webinars will be made available on the TRIP data collection website, and recordings of each webinar will be made available on the website following each training session. III. 2021 TRIP Data Call Treasury, through an insurance statistical aggregator, will accept group or insurer registration forms through https://tripsection111data.com. Registration is mandatory for all insurers participating in the 2021 TRIP Data Call. Upon registration, the aggregator will transmit individualized data collection forms (in Excel format) to the reporting group or insurer via a secure file transfer portal. The reporting group or insurer may transmit a complete data submission via the same portal using either the provided Excel forms or a .csv file.12 Copies of the instructions and data collection forms are available on Treasury’s website in read-only format. Reporting insurers will obtain the fillable reporting forms directly from the data aggregator only after registering for the data collection process. Reporting insurers are required to register and submit complete data to Treasury no later than May 15, 2021. Because of the statutory reporting deadline for Treasury’s 2021 Small Insurer Study to Congress, no extensions will be granted. Reporting insurers can ask the data aggregator questions about registration, form completion, and submission at tripsection111data@iso.com. Reporting insurers may also submit questions to the Treasury contacts listed above. Questions regarding submission of data to state insurance regulators should be directed to the appropriate state insurance regulator or the NAIC. 12 Specifications for submission of data using a .csv file will be provided to the insurer by the aggregator. E:\FR\FM\12MRN1.SGM 12MRN1 Federal Register / Vol. 86, No. 47 / Friday, March 12, 2021 / Notices All data submitted to the aggregator is subject to the confidentiality and data protection provisions of TRIA and the Program Rules, as well as to section 552 of title 5, United States Code, including any exceptions thereunder. In accordance with the Paperwork Reduction Act (44 U.S.C. 3501–3521), the information collected through the web portal has been approved by OMB under Control Number 1505–0257. An agency may not conduct or sponsor, and a person is not required to respond to, a collection of information unless it displays a valid OMB control number. Dated: March 9, 2021. Steven E. Seitz, Director, Federal Insurance Office. [FR Doc. 2021–05171 Filed 3–11–21; 8:45 am] BILLING CODE 4810–AK–P DEPARTMENT OF VETERANS AFFAIRS [OMB Control No. 2900–0510] Agency Information Collection Activity: Application for Exclusion of Children’s Income Veterans Benefits Administration, Department of Veterans Affairs. ACTION: Notice. AGENCY: Veteran’s Benefits Administration (VBA), Department of Veterans Affairs (VA), is announcing an opportunity for public comment on the proposed collection of certain information by the agency. Under the Paperwork Reduction Act (PRA) of 1995, Federal agencies are required to publish notice in the Federal Register SUMMARY: VerDate Sep<11>2014 17:04 Mar 11, 2021 Jkt 253001 concerning each proposed collection of information, including each proposed extension of a currently approved collection, and allow 60 days for public comment in response to the notice. DATES: Written comments and recommendations on the proposed collection of information should be received on or before May 11, 2021. ADDRESSES: Submit written comments on the collection of information through Federal Docket Management System (FDMS) at www.Regulations.gov or to Nancy J. Kessinger, Veterans Benefits Administration, Department of Veterans Affairs, 810 Vermont Avenue NW, Washington, DC 20420 or email to nancy.kessinger@va.gov. Please refer to ‘‘OMB Control No. 2900–0510’’ in any correspondence. During the comment period, comments may be viewed online through FDMS. FOR FURTHER INFORMATION CONTACT: Maribel Aponte, Office of Enterprise and Integration, Data Governance Analytics (008), 1717 H Street NW, Washington, DC 20006, (202) 266–4688 or email maribel.aponte@va.gov. Please refer to ‘‘OMB Control No. 2900–0510’’ in any correspondence. SUPPLEMENTARY INFORMATION: Under the PRA of 1995, Federal agencies must obtain approval from the Office of Management and Budget (OMB) for each collection of information they conduct or sponsor. This request for comment is being made pursuant to Section 3506(c)(2)(A) of the PRA. With respect to the following collection of information, VBA invites comments on: (1) Whether the proposed collection of information is necessary for the proper performance of VBA’s functions, including whether the PO 00000 Frm 00113 Fmt 4703 Sfmt 9990 14181 information will have practical utility; (2) the accuracy of VBA’s estimate of the burden of the proposed collection of information; (3) ways to enhance the quality, utility, and clarity of the information to be collected; and (4) ways to minimize the burden of the collection of information on respondents, including through the use of automated collection techniques or the use of other forms of information technology. Authority: 38 U.S.C. 103. Title: Application for Exclusion of Children’s Income (VA Form 21P–0571). OMB Control Number: 2900–0510. Type of Review: Extension of a currently approved collection. Abstract: VA Form 21P–0571, Application for Exclusion of Children’s Income is used for the sole purpose of collecting the information needed to determine if the children’s income is available to the beneficiary, and if it would cause a hardship to consider their income. Affected Public: Individuals and households. Estimated Annual Burden: 2,025 hours. Estimated Average Burden per Respondent: 45 minutes. Frequency of Response: One time. Estimated Number of Respondents: 2,700. By direction of the Secretary. Maribel Aponte, VA PRA Clearance Officer, Office of Enterprise and Integration, Data Governance Analytics, Department of Veterans Affairs. [FR Doc. 2021–05109 Filed 3–11–21; 8:45 am] BILLING CODE 8320–01–P E:\FR\FM\12MRN1.SGM 12MRN1

Agencies

DEPARTMENT OF THE TREASURY

[Federal Register Volume 86, Number 47 (Friday, March 12, 2021)]
[Notices]
[Pages 14179-14181]
From the Federal Register Online via the Government Publishing Office [www.gpo.gov]
[FR Doc No: 2021-05171]


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DEPARTMENT OF THE TREASURY


2021 Terrorism Risk Insurance Program Data Call

AGENCY: Departmental Offices, U.S. Department of the Treasury.

ACTION: Data Collection.

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SUMMARY: Pursuant to the Terrorism Risk Insurance Act of 2002, as 
amended (TRIA), insurers that participate in the Terrorism Risk 
Insurance Program (TRIP or Program) are directed to submit information 
for the 2021 TRIP Data Call, which covers the reporting period from 
January 1, 2020 to December 31, 2020. Participating insurers are 
required to register and report information in a series of forms 
approved by the Office of Management and Budget (OMB). All insurers 
writing commercial property and casualty insurance in lines subject to 
TRIP, subject to certain exceptions identified in this notice, must 
respond to this data call no later than May 15, 2021.

DATES: Participating insurers must register and submit data no later 
than May 15, 2021.

ADDRESSES:  Participating insurers will register through a website that 
has been established for this data call. After registration, insurers 
will receive data collection forms through a secure file transfer 
portal, and they will submit the requested data through the same secure 
portal. Participating insurers can register for the 2021 TRIP Data Call 
at https://tripsection111data.com. Additional information about the 
data call, including sample data collection forms and instructions, can 
be found on the TRIP website at https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.

FOR FURTHER INFORMATION CONTACT: Richard Ifft, Senior Insurance 
Regulatory Policy Analyst, Federal Insurance Office, Room 1410, 
Department of the Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 
20220, (202) 622-2922; or Lindsey Baldwin, Senior Insurance Regulatory 
Policy Analyst, Federal Insurance Office, Room 1410, Department of the 
Treasury, 1500 Pennsylvania Avenue NW, Washington, DC 20220, (202) 622-
3220. Persons who have difficulty hearing or speaking may access these 
numbers via TTY by calling the toll-free Federal Relay Service at (800) 
877-8339.

SUPPLEMENTARY INFORMATION:

I. Background

    TRIA \1\ created the Program within the U.S. Department of the 
Treasury (Treasury) to address disruptions in the market for terrorism 
risk insurance, to help ensure the continued availability and 
affordability of commercial property and casualty insurance for 
terrorism risk, and to allow for the private market to stabilize and 
build insurance capacity to absorb any future losses for terrorism 
events. The Program has been reauthorized on a number of occasions, and 
was most recently extended until December 31, 2027.\2\ TRIA requires 
the Secretary of the Treasury (Secretary) to collect certain insurance 
data and information from insurers on an annual basis regarding their 
participation in the Program.\3\ TRIA also requires the Secretary to 
prepare a biennial study on the competitiveness of small insurers in 
the terrorism risk insurance marketplace (Small Insurer Study).\4\ The 
next Small Insurer Study must be submitted to Congress by June 30, 
2021. The Federal Insurance Office (FIO) is authorized to assist the
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    \1\ Public Law 107-297, 116 Stat. 2322, codified at 15 U.S.C. 
6701, note. Because the provisions of TRIA (as amended) appear in a 
note, instead of particular sections, of the United States Code, the 
provisions of TRIA are identified by the sections of the law.
    \2\ Terrorism Risk Insurance Program Reauthorization Act of 
2019, Public Law 116-94, 133 Stat. 2534.
    \3\ TRIA, sec. 104(h)(1). Treasury regulations also address the 
annual data collection requirement. See 31 CFR 50.51, 50.54.
    \4\ TRIA, sec.108(h).
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    Secretary in the administration of the Program,\5\ including 
conducting the annual data call and preparing reports and studies 
required under TRIA.
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    \5\ 31 U.S.C. 313(c)(1)(D).
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    FIO will be using the same data collection forms, without material 
changes, that were used during the 2020 TRIP Data Call. FIO solicited 
public comment concerning these forms, after their use during the 2020 
TRIP Data Call,\6\ and received no comments objecting to the continued 
use of these forms or proposing further revisions to the forms. The 
forms were then submitted for approval to the Office of Management and 
Budget (OMB), pursuant to the requirements of the Paperwork Reduction 
Act. The data collection forms have now been approved for use by OMB 
under Control Number 1505-0257 for a period ending November 30, 
2023.\7\
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    \6\ 85 FR 41676 (July 10, 2020).
    \7\ Office of Information and Regulatory Affairs, Office of 
Management & Budget, OMB Control No. 1505-0257, https://www.reginfo.gov/public/do/PRAViewICR?ref_nbr=202009-1505-002.
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II. Elements of 2021 TRIP Data Call

    For purposes of the 2021 TRIP Data Call, FIO, state insurance 
regulators, and the National Association of Insurance Commissioners 
(NAIC) will again use the consolidated data call mechanism first 
developed for use in the 2018 TRIP Data Call. This approach relies on 
four joint reporting templates, to be completed by Small Insurers, Non-
Small Insurers, Captive Insurers, and Alien Surplus Lines Insurers, 
each as defined below. The use of joint reporting templates is designed 
to satisfy the objectives of both Treasury and state insurance 
regulators, while also reducing burden on participating insurers. State 
insurance regulators or the NAIC will provide separate notification 
regarding the reporting of information into the state reporting portal, 
including any reporting requirements to state insurance regulators that 
are distinct from the Treasury requirements. Insurers subject to the 
consolidated data call that are part of a group will report on a group 
basis, while those that are not part of a group will report on an 
individual company basis.

A. Reporting of Workers' Compensation Information

    The TRIP Data Calls request certain information relating to 
workers' compensation insurance. For the 2021 TRIP Data Call, Treasury 
will again work with the National Council on Compensation Insurance 
(NCCI), the California Workers' Compensation Insurance Rating Bureau 
(California WCIRB), and the New York Compensation Insurance Rating 
Board (NYCIRB) to provide workers' compensation data relating to 
premium and payroll information on behalf of participating insurers, 
either directly or through other workers' compensation rating bureaus. 
The data aggregator used by Treasury will provide such insurers with 
reporting templates that do not require them to report this workers' 
compensation data. Reporting insurers that write only workers' 
compensation policies are still required to register for the 2021 TRIP 
Data Call and provide general company information and data

[[Page 14180]]

related to private reinsurance. The data received from NCCI, the 
California WCIRB, and the NYCIRB will be merged with the information 
provided by the insurers.

B. Reporting Templates

    There are no material changes to the reporting templates used in 
the 2020 TRIP Data Call.\8\ Each category of insurer is required to 
complete the same worksheets that they completed in the 2020 TRIP Data 
Call. The same reporting exceptions apply this year as applied in the 
2020 TRIP Data Call, as specified further below in the discussions for 
each category of insurer.
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    \8\ There is a new modeled loss scenario identified in the 
Reinsurance Worksheet that will be used in connection with the 
modeled loss questions (which have not changed from those posed in 
prior data collections). The modeled loss questions must be 
completed by Non-Small Insurers, Alien Surplus Lines Insurers, and 
Captive Insurers. As in prior years, Small Insurers complete a 
separate Reinsurance Worksheet that does not contain modeled loss 
questions.
---------------------------------------------------------------------------

    Various worksheets used in the 2021 TRIP Data Call seek certain 
information relating to workers' compensation insurance. NCCI, the 
California WCIRB, and the NYCIRB will complete the workers' 
compensation elements of these worksheets on behalf of reporting 
insurers. Further information concerning the reporting templates for 
each category of insurer, and the individual worksheets contained 
within each, can be found in the instructions for the reporting 
templates for each category of insurer. The individual reporting 
templates and worksheets will also be addressed in the training 
webinars discussed below.
    For the 2021 TRIP Data Call, an insurer will qualify as a Small 
Insurer if it had both 2019 policyholder surplus of less than $1 
billion and 2019 direct earned premiums in TRIP- eligible lines of 
insurance of less than $1 billion.\9\ Of this group, Small Insurers 
with TRIP- eligible direct earned premiums of less than $10 million in 
2020 will be exempt from the 2021 TRIP Data Call.\10\ Neither Captive 
Insurers nor Alien Surplus Lines Insurers are eligible for this 
reporting exemption. Insurers defined as Small Insurers for the 2021 
TRIP Data Call will report the same information to Treasury and to 
state insurance regulators (in each case on a group basis), except as 
state insurance regulators may separately direct for purposes of the 
state data call.
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    \9\ Small Insurers are defined in 31 CFR 50.4(z) as insurers (or 
an affiliated group of insurers) whose policyholder surplus for the 
immediately preceding year is less than five times the Program 
Trigger for the current year, and whose direct earned premiums in 
TRIP-eligible lines for the preceding year are also less than five 
times the Program Trigger for the current year. Accordingly, for the 
2021 TRIP Data Call (covering the 2020 calendar year), an insurer 
qualifies as a Small Insurer if its 2019 policyholder surplus and 
2019 direct earned premiums are less than five times the 2020 
Program Trigger of $200 million.
    \10\ Individual insurers with less than $10 million in direct 
earned premiums in TRIP-eligible lines that are part of a larger 
group must still report as part of the group as a whole if the 
group's direct earned premiums in these lines are over $10 million.
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    The Non-Small Insurer template will be completed by insurance 
groups (or individual insurers not affiliated with a group) that are 
not subject to reporting on the Captive Insurer or Alien Surplus Lines 
Insurer reporting templates, and had either a 2019 policyholder surplus 
of greater than $1 billion or 2019 direct earned premiums in TRIP-
eligible lines of insurance equal to or greater than $1 billion. 
Insurers defined as Non-Small Insurers for the 2021 TRIP Data Call will 
report the same information to Treasury and to state insurance 
regulators (in each case on a group basis), except as state insurance 
regulators may separately direct for purposes of the state data call.
    Captive Insurers are defined in 31 CFR 50.4(g) as insurers licensed 
under the captive insurance laws or regulations of any state. Captive 
Insurers that wrote policies in TRIP-eligible lines of insurance during 
the reporting period (January 1, 2020 to December 31, 2020) are 
required to register and submit data to Treasury, unless they did not 
provide their insureds with any terrorism risk insurance subject to the 
Program.
    Alien Surplus Lines Insurers are defined in 31 CFR 50.4(o)(1)(i)(B) 
as insurers not licensed or admitted to engage in the business of 
providing primary or excess insurance in any state, but that are 
eligible surplus line insurers listed on the NAIC Quarterly Listing of 
Alien Insurers. Alien Surplus Lines Insurers that are part of a larger 
group classified as a Non-Small Insurer or a Small Insurer should 
report to Treasury as part of the group, using the appropriate 
template. Therefore, the Alien Surplus Lines Insurer template should be 
used only by an Alien Surplus Lines Insurer that is not part of a 
larger group subject to the 2021 TRIP Data Call.

C. Supplemental Reference Documents

    Treasury will continue to make available on the TRIP data 
collection website \11\ documents providing a complete ZIP code listing 
for areas subject to reporting on the Geographic Exposures (Nationwide) 
Worksheet, as well as several hypothetical policy reporting scenarios.
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    \11\ See https://home.treasury.gov/policy-issues/financial-markets-financial-institutions-and-fiscal-service/federal-insurance-office/terrorism-risk-insurance-program/annual-data-collection.
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D. Training Webinars

    As in prior years, Treasury will hold four separate training 
sessions corresponding to the four reporting templates that will be 
used by insurers (Small Insurers, Non-Small Insurers, Captive Insurers, 
and Alien Surplus Lines Insurers). The webinars will be held on April 
15 and April 16, 2021 to assist reporting insurers in responding to the 
2021 TRIP Data Call, with each webinar focusing on a specific reporting 
template. Specific times and details concerning participation in the 
webinars will be made available on the TRIP data collection website, 
and recordings of each webinar will be made available on the website 
following each training session.

III. 2021 TRIP Data Call

    Treasury, through an insurance statistical aggregator, will accept 
group or insurer registration forms through https://tripsection111data.com. Registration is mandatory for all insurers 
participating in the 2021 TRIP Data Call. Upon registration, the 
aggregator will transmit individualized data collection forms (in Excel 
format) to the reporting group or insurer via a secure file transfer 
portal. The reporting group or insurer may transmit a complete data 
submission via the same portal using either the provided Excel forms or 
a .csv file.\12\
---------------------------------------------------------------------------

    \12\ Specifications for submission of data using a .csv file 
will be provided to the insurer by the aggregator.
---------------------------------------------------------------------------

    Copies of the instructions and data collection forms are available 
on Treasury's website in read-only format. Reporting insurers will 
obtain the fillable reporting forms directly from the data aggregator 
only after registering for the data collection process.
    Reporting insurers are required to register and submit complete 
data to Treasury no later than May 15, 2021. Because of the statutory 
reporting deadline for Treasury's 2021 Small Insurer Study to Congress, 
no extensions will be granted. Reporting insurers can ask the data 
aggregator questions about registration, form completion, and 
submission at [email protected]. Reporting insurers may also 
submit questions to the Treasury contacts listed above. Questions 
regarding submission of data to state insurance regulators should be 
directed to the appropriate state insurance regulator or the NAIC.

[[Page 14181]]

    All data submitted to the aggregator is subject to the 
confidentiality and data protection provisions of TRIA and the Program 
Rules, as well as to section 552 of title 5, United States Code, 
including any exceptions thereunder. In accordance with the Paperwork 
Reduction Act (44 U.S.C. 3501-3521), the information collected through 
the web portal has been approved by OMB under Control Number 1505-0257. 
An agency may not conduct or sponsor, and a person is not required to 
respond to, a collection of information unless it displays a valid OMB 
control number.

    Dated: March 9, 2021.
Steven E. Seitz,
Director, Federal Insurance Office.
[FR Doc. 2021-05171 Filed 3-11-21; 8:45 am]
BILLING CODE 4810-AK-P

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